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Indian-origin businessman Bankim Brahmbhatt accused of $500 million fraud in US
Bankim Brahmbhatt allegedly fabricated invoices and customer emails to secure massive loans from global investors.
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Pranavi Sharma - Mon, 03, Nov 2025
- 00:43 EST
- 42
Bankim Brahmbhatt. / Bankai Group
Bankim Brahmbhatt, an Indian-origin entrepreneur and telecom executive, has been accused of allegedly orchestrating a large-scale fraud exceeding $500 million that left investors, including the private-credit arm of U.S. investment firm BlackRock, attempting to recover funds, according to media reports citing The Wall Street Journal.
Brahmbhatt, the owner of telecom firms Broadband Telecom and Bridgevoice, allegedly fabricated accounts receivable that were used as collateral to secure loans. The lenders described the scheme as “breathtaking” and said it involved falsified financial records and forged documentation dating back to 2018.
According to the reports, Brahmbhatt raised millions of dollars from private-credit investors led by HPS Investment Partners, a major lending platform recently acquired by BlackRock. The lenders claim he used a network of financial vehicles to carry out the scheme.
Investigators also alleged that Brahmbhatt forged invoices, created fake customer emails and contracts, and transferred pledged assets offshore to India and Mauritius, News18 reported.
Brahmbhatt has not issued a public statement regarding the allegations.
Industry background
Brahmbhatt is a veteran of the telecommunications and financial technology sectors with more than three decades of experience. He serves as president and CEO of Bankai Group, a global telecom and fintech company, and is also chairman and managing director of Panamax Inc., according to organizational charts.
He began his career in the late 1980s manufacturing push-button telephones in India before expanding into global telecom services, including Voice over Internet Protocol (VoIP), carrier voice and messaging, and fintech platforms. Under his leadership, Bankai Group developed infrastructure and financial technology solutions for banks, mobile network operators, and telecom carriers worldwide.
Brahmbhatt has been featured multiple times on the “Power 100” list by Capacity Media, which recognizes influential figures in the telecom and carrier industries.
As of now, the lenders involved continue efforts to trace the missing funds and assess the full extent of the alleged fraud. Investigations are ongoing.
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